The Bitcoin market is currently showing mixed signals, with on-chain data indicating stability and caution. The Net Unrealized Profit and Loss (NUPL) for Bitcoin stands at 0.45, indicating moderately positive sentiment. However, holders are hesitant to sell due to uncertainty around the upcoming CPI release, potential interest rate cuts, and the US presidential elections. Long-term holders are displaying strong HODLing behavior, as reflected in the Binary Coin Days Destroyed (BCD) metric. Investors are anxious about potential price drops but fear of missing out on future gains keeps them from selling. The uncertainty around the US presidential election and other factors will determine Bitcoin price targets. Some experts believe it is too early to think about new highs, while others say that if macro trends are favorable, BTC may reach $64,520 or even $68,599, but if bearish trends prevail, it could fall to $49,516.



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